Ripple [XRP] CEO calls blockchain technology a ‘Big Bang Moment’

Brad Garlinghouse, CEO of Ripple, Kathryn Haun Board of Directors of Coinbase, Bridget van Kralingen, Senior Vice President of IBM were a part of one of the talk shows at 2018 Code Conference.

They discussed the importance of blockchain and decentralized ledger system in various sectors. Kathryn Haun, who was a part of the U.S. Department of Justice [DOJ] earlier, spoke about who is going to regularize cryptocurrency in the United States and how the blockchain technology is being considered by the Securities and Exchange Commission [SEC].

Brad Garlinghouse, the CEO of Ripple says:

“Blockchain broadly is a Big Bang Moment and there are regulatory bodies trying to figure out what exactly the technology is.”

Tweet by Ripple:

“Bitcoin may end up being the Napster of digital assets. It’s shown what’s possible. But Spotify, iTunes, Pandora engaged the system and regulators, and they ruled the day.”

Bridget talks about one of IBM’s blockchain project called food trust, which is a blockchain built specifically for tracking and recalling the provenance of food, with companies like Walmart, Unilever, and Nestle.

Bridget further adds:

“The pain of changing out data and uploading data or reversing out of systems is mitigated using blockchain. And the reduction in terms of the actual digital cost and document cost.”